Companies / Teradyne COMPANY FILINGS
Teradyne TER In fiscal 2025, Teradyne supplied automated test equipment and robotics solutions, including collaborative robotic arms and autonomous mobile robots for manufacturing, logistics and industrial customers.
Business description: FY2025 CIK 0000097210 Source: SEC EDGAR
Overview 10-K summary Balance sheet Original filings
Annual reports 9
Report coverage 2017–2025
Financial statement focus Balance sheet READ THE FILING
Annual report insights AI summary AI-generated summaries of the cited 10-K filings. For informational purposes only; not personalized investment advice.
Choose a fiscal year FY2025 FY2024 FY2023 FY2022 FY2021 Semiconductor Test revenue grew 18.8% in 2025 versus 2024. Management attributed the increase primarily to higher sales for AI-related computing and system-level testing.
Source: 2025 Robotics revenue fell 15.5% in 2025 versus 2024, primarily because of lower collaborative-arm and autonomous-mobile-robot sales, according to management. The company also recorded US$24.3 million of severance charges for a Robotics restructuring affecting approximately 400 employees.
Source: 2025 View full 10-K summary 2025 Hide full 10-K summary 2025 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Positive signals Photonics Teradyne acquired Quantifi Photonics on May 31, 2025, for a total purchase price of US$127.2 million, adding photonic integrated circuit testing capabilities to Product Test. Management said the acquisition enabled scalable testing solutions; Quantifi's standalone revenue and operating contribution were not separately disclosed because the acquisition's financial impact was not material.
Source: 2025 Negative signals Trade restrictions Teradyne reported that compliance with export controls and economic sanctions had limited its ability to compete in certain regions, while the sales impact could not be quantified. Separately, it warned that changes in U.S. trade policy could reduce product competitiveness and sales; this was a conditional risk, not a quantified future loss.
Source: 2025 Business context Customer concentration The five largest direct customers accounted for 44% of consolidated revenue in 2025. Teradyne warned that a material reduction in customer purchase orders could reduce revenue and materially harm operating results and financial condition; it did not report that such a reduction had occurred.
Source: 2025 Cash and debt Cash, cash equivalents and marketable securities (tradable investments) declined by US$275.5 million during 2025 to US$448.3 million. The company had US$200.0 million outstanding under its revolving credit agreement (credit line) at year-end, with the agreement scheduled to expire on December 10, 2026.
Source: 2025 Business in fiscal 2025 In fiscal 2025, Teradyne supplied automated test equipment and robotics solutions, including collaborative robotic arms and autonomous mobile robots for manufacturing, logistics and industrial customers.
Source: 2025
5-year changes FY2021–FY2025 These changes use selected original filing passages and nearby context from the stated five fiscal years. They are not an exhaustive review of all five reports and exclude later-year filings.
Customer concentration The share of Teradyne's consolidated revenue—revenue for the company and its subsidiaries together—from its five largest direct customers fell from 33% in 2021 to 26% in 2022, then rose to 32% in 2023, 36% in 2024 and 44% in 2025. These figures concern direct customers, not combined direct and indirect customer demand. Teradyne warned in its 2025 report that a material reduction in customer purchase orders could reduce revenue.
Source: 2021 , 2022 , 2023 , 2024 , 2025 Robotics reversal Teradyne reported that its Industrial Automation segment returned to growth in 2021. Under the Robotics label, it reported revenue growth of 7.2% in 2022, followed by annual declines of 6.9% in 2023, 2.8% in 2024 and 15.5% in 2025. During this period, Teradyne merged MiR and AutoGuide in September 2022 into a single supplier of autonomous mobile robots. Teradyne attributed the 2025 revenue decline primarily to lower sales of collaborative robotic arms and autonomous mobile robots; the earlier growth did not continue throughout the five-year period.
Source: 2021 , 2022 , 2023 , 2024 , 2025 Request a correction Semiconductor Test revenue increased by $166.7 million, or 8.5%, in 2024 versus 2023. Management attributed the increase primarily to higher tester sales for computing, advanced driver-assistance systems and memory applications, partly offset by lower sales for legacy automotive applications.
Source: 2024 On May 27, 2024, Teradyne paid €483.1 million, equivalent to $524.1 million, for a 10% stake in Technoprobe. It also completed the sale of its Device Interface Solutions business to Technoprobe, recognizing a $57.1 million pre-tax gain.
Source: 2024 View full 10-K summary 2024 Hide full 10-K summary 2024 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Negative signals Robotics weakness Robotics revenue fell by $10.4 million, or 2.8%, in 2024 versus 2023. Management attributed the decline primarily to continued industrial-automation market weakness and softer Universal Robots sales; the segment's pre-tax loss widened to $77.6 million from $54.3 million.
Source: 2024 Export controls Certain customers and prospective customers were added to U.S. export-control lists or rules on December 2, 2024. Teradyne reported an adverse impact on business with affected customers. Separately, it warned that further effects on customers or disruption of the global semiconductor industry could hurt its business and revenue.
Source: 2024 Business context Segment reporting In the fourth quarter of 2024, Teradyne moved Integrated System Test reporting into Semiconductor Test. At year-end, Semiconductor Test and Robotics were its two reportable segments; System Test and Wireless Test were grouped in All Other because they no longer qualified for individual disclosure.
Source: 2024 Business in fiscal 2024 In fiscal 2024, Teradyne supplied automated systems for testing semiconductors, wireless products, data storage and complex electronics, alongside collaborative robotic arms and autonomous mobile robots.
Source: 2024
5-year changes FY2020–FY2024 These changes use selected original filing passages and nearby context from the stated five fiscal years. They are not an exhaustive review of all five reports and exclude later-year filings.
Supply constraints eased Teradyne's FY2020 report said COVID-19 had not caused significant supply-chain impacts or interruptions; its FY2021 report disclosed interruptions from the pandemic. In 2022, Teradyne could not supply approximately $20 million of revenue in its test businesses despite customer demand. Its FY2023 report described improvements in supply constraints during the second half of 2023, with no material increases in component lead times—the time needed to obtain components—or costs. The FY2024 report extended that description to the full year of 2024. This was not a claim that supply risk had disappeared: Teradyne still warned that supply constraints could affect its businesses in the future.
Source: 2020 , 2021 , 2022 , 2023 , 2024 Technoprobe deal completed On November 7, 2023, Teradyne announced a strategic partnership with Technoprobe, including an agreement to buy a 10% ownership stake for 481.0 million Euros. The FY2023 report expected the transaction to close in the first half of 2024; it was not yet a completed purchase. On May 27, 2024, Teradyne paid 483.1 million Euros, equivalent to $524.1 million, for shares representing 10% of Technoprobe. As part of the transaction, Teradyne also completed the sale of its Device Interface Solutions business, a component of Semiconductor Test, to Technoprobe for $85.0 million in cash, net of cash and cash equivalents sold, and a customary working capital adjustment—an adjustment for operating assets and liabilities transferred. Completion did not establish that the expected benefits had been realized; Teradyne continued to warn that it might not realize the benefits of its acquisitions or strategic alliances.
Source: 2023 , 2024 Request a correction Semiconductor Test revenue fell by $262.0 million, or 12.6%, in 2023 compared with 2022. Management attributed the decline primarily to lower tester sales for compute and mobility applications.
Source: 2023 In November 2023, Teradyne announced a Technoprobe partnership involving an agreement to acquire a 10% equity stake for €481.0 million and sell its Device Interface Solutions business for $85.0 million. Management expected closing in the first half of 2024; these were pending transactions, not completed 2023 acquisitions or disposals.
Source: 2023 View full 10-K summary 2023 Hide full 10-K summary 2023 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Positive signals Services Service revenue increased by $16.5 million, or 2.9%, in 2023 compared with 2022, primarily in Semiconductor Test and Storage Test.
Source: 2023 Negative signals Robotics Robotics revenue declined by $27.9 million, or 6.9%, in 2023 compared with 2022. Management attributed the decrease primarily to softer demand associated with slowing global industrial activity and macroeconomic headwinds, and to the transformation of Universal Robots' sales channel.
Source: 2023 Business context Export controls Teradyne reported that U.S. export-control updates effective November 17, 2023 significantly limited the impact of the October 7, 2022 restrictions on its business. Separately, management warned that adverse effects on actual or potential customers, or disruption of the global semiconductor industry, would hurt its business and revenue if they occurred.
Source: 2023 Business in fiscal 2023 In fiscal 2023, Teradyne designed, manufactured and sold automated test systems and robotics products, including collaborative robotic arms and autonomous mobile robots for manufacturing, logistics and industrial customers.
Source: 2023
5-year changes FY2019–FY2023 These changes use selected original filing passages and nearby context from the stated five fiscal years. They are not an exhaustive review of all five reports and exclude later-year filings.
Semiconductor Test sales This comparison uses selected original passages and neighboring context, not a full review of all five reports. Teradyne's Semiconductor Test revenue rose from $1,552.6 million in 2019 to $2,259.6 million in 2020 and $2,642.3 million in 2021, then fell to $2,080.6 million in 2022 and $1,818.6 million in 2023. These are segment revenues, not company-wide sales. Teradyne attributed the 2023 decrease primarily to lower tester sales for compute and mobility applications.
Source: 2020 , 2021 , 2022 , 2023 Credit access Teradyne terminated its earlier credit agreement on June 27, 2019. It entered a new three-year secured revolving credit facility—a borrowing arrangement that allows funds to be borrowed, repaid and borrowed again—of up to $400.0 million on May 1, 2020. On December 10, 2021, it extended the facility's maturity to December 10, 2026; on October 5, 2022, it increased the limit to $750.0 million. These were completed agreement changes, not amounts borrowed. The 2023 report stated that no funds had been borrowed under this facility as of February 22, 2024, a date after the fiscal year-end.
Source: 2019 , 2020 , 2021 , 2022 , 2023 Request a correction Semiconductor Test revenue fell to US$2,080.6 million in 2022 from US$2,642.3 million in 2021. Management attributed the decline primarily to lower tester sales for mobile and high-performance compute processors, partly offset by increased sales of testers for advanced driver assistance systems.
Source: 2022 Robotics revenue increased to US$403.1 million in 2022 from US$375.9 million in 2021, but the segment's loss before income taxes widened to US$16.2 million from US$8.2 million.
Source: 2022 View full 10-K summary 2022 Hide full 10-K summary 2022 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Positive signals No positive signals are highlighted in this summary. This does not mean the filing contains none.
Negative signals Unfilled demand Teradyne reported that it could not supply approximately US$20 million of revenue in its test businesses during 2022 despite customer demand. This was unfulfilled demand, not revenue recognized during the year.
Source: 2022 China licensing The 2022 annual report disclosed temporary U.S. authorization to continue manufacturing and development operations in China pending a replacement license. Separately, management said it could not assess the likelihood or timing of receiving that license; continued authorization was not assured.
Source: 2022 Business context Robotics lineup Teradyne merged MiR and AutoGuide into a single autonomous mobile robot supplier in September 2022. Universal Robots also introduced the UR20 collaborative robot in 2022. The filing scheduled UR20 shipments to begin in the first half of 2023, a future development rather than a completed 2022 shipment milestone.
Source: 2022 Business in fiscal 2022 In fiscal 2022, Teradyne supplied automated test equipment and robotics products. Its systems tested semiconductors, wireless products, data storage and complex electronics, while its robotics offerings included collaborative robotic arms and autonomous mobile robots.
Source: 2022
5-year changes FY2018–FY2022 These changes use selected original filing passages and nearby context from the stated five fiscal years. They are not an exhaustive review of all five reports and exclude later-year filings.
Semiconductor Test sales Teradyne's Semiconductor Test revenue increased from $1,492,417 thousand in 2018 to $1,552,571 thousand in 2019. The selected revenue tables in the next three reports use millions of U.S. dollars: $2,259.6 million in 2020, $2,642.3 million in 2021 and $2,080.6 million in 2022. Revenue thus grew through 2021 before declining in 2022; these figures describe Semiconductor Test, not Teradyne's total sales.
Source: 2018 , 2019 , 2020 , 2021 , 2022 Supply constraints In its 2020 report, Teradyne said it had not experienced significant supply-chain impacts or interruptions from COVID-19. Its 2021 report described pandemic-related supply-chain interruptions. In 2022, Teradyne reported that it could not supply approximately $20 million of revenue in its test businesses despite customer demand; this is not a measure of losses caused solely by COVID-19. It also reported extending or placing non-cancellable purchase commitments with semiconductor suppliers in some cases, warning that inaccurate forecasts and assumptions could create inventory risk—being committed to purchases that may not match actual needs.
Source: 2020 , 2021 , 2022 Request a correction Semiconductor Test revenue increased 16.9% in 2021 from 2020. Management attributed the increase mainly to tester sales for high-performance computing processors and industrial and automotive devices, partly offset by lower tester sales for mobile application processors.
Source: 2021 Industrial Automation returned to growth in 2021, with revenue increasing 34.4% from 2020. Management attributed the increase to demand for collaborative robotic arms and collaborative autonomous mobile robots, although the segment still reported a US$8.2 million loss before income taxes.
Source: 2021 View full 10-K summary 2021 Hide full 10-K summary 2021 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Positive signals No positive signals are highlighted in this summary. This does not mean the filing contains none.
Negative signals Component shortages The annual report disclosed that component shortages had increased lead times and costs for certain products and delayed some customer orders. Teradyne said these supply-chain challenges had not materially affected its business, operating results or financial condition at the time of reporting.
Source: 2021 AutoGuide dispute In the AutoGuide acquisition dispute disclosed in the 2021 report, the arbitration claimant sought accelerated payment of the US$106.9 million maximum earnout (conditional acquisition payment), alleging contractual breaches. Teradyne and AutoGuide denied breaching the agreement. The company said a material loss was reasonably possible but could not be estimated; the claim was not an established liability or proven breach.
Source: 2021 Business context Customer concentration The five largest direct customers accounted for 33% of consolidated revenue in 2021. Separately, Teradyne estimated that one equipment manufacturer's direct purchases and purchases through its outsourced semiconductor assembly and test providers drove approximately 19% of consolidated revenue. These measures overlap and should not be added together. The company warned that losing a significant customer or receiving fewer orders could materially harm its business.
Source: 2021 Demand outlook Looking ahead from the 2021 report, management expected lower Semiconductor Test demand in 2022 because of a slower technology transition in one of its largest end-markets. It expected demand to accelerate in 2023 as volume production of devices using 3-nanometer manufacturing technology increased. These were management expectations, not realized results.
Source: 2021 Business in fiscal 2021 In fiscal 2021, Teradyne supplied automated testing systems for semiconductors, wireless products, data storage and complex electronics, alongside industrial automation products including collaborative robotic arms, autonomous mobile robots and robotic control software.
Source: 2021
5-year changes FY2017–FY2021 These changes use selected original filing passages and nearby context from the stated five fiscal years. They are not an exhaustive review of all five reports and exclude later-year filings.
Broader automation Teradyne's 2017 report described its industrial automation products as collaborative robots. The 2018 description included collaborative robotic arms, autonomous mobile robots and advanced robotic control software. Teradyne acquired Energid and MiR in 2018 and AutoGuide in 2019. Its 2019 report included Mobile Industrial Robots' results from April 25, 2018, Energid's from February 26, 2018, and AutoGuide's from November 13, 2019, rather than treating them as full-year contributions before those dates. This documents a broader business scope, not proof that acquisition benefits were realized; the 2021 report warned that Teradyne might not realize those benefits or successfully grow the acquired businesses.
Source: 2017 , 2018 , 2019 , 2021 Test revenue recovery Teradyne's Semiconductor Test revenue was $1,662.5 million in 2017 and $1,552.6 million in 2019, below the 2017 level. It then rose to $2,259.6 million in 2020 and $2,642.3 million in 2021. These are revenues for the Semiconductor Test business, not total company revenue or profit. The comparison uses reported amounts without calculating a five-year growth rate or implying that revenue rose every year.
Source: 2017 , 2020 , 2021 Huawei-linked demand Teradyne estimated that Huawei-driven revenue, combining direct sales to Huawei with sales to Huawei's outsourced semiconductor assembly and test providers, accounted for approximately 11% of consolidated revenue in 2019, 3% in 2020 and 0% in 2021. This is broader than direct sales to Huawei alone. In its 2019 report, Teradyne said compliance with Entity List restrictions had not significantly affected its sales. Its 2020 report said new export regulations had affected sales to Huawei, HiSilicon and their suppliers. These disclosures establish a change in reported customer exposure and regulatory impact, but do not quantify how much of the revenue-share decline was caused by those restrictions.
Source: 2019 , 2020 , 2021 Request a correction FINANCIAL STATEMENTS
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Annual reports & SEC 10-K filings SEC EDGAR 9 reports in this collection
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